Could the rising wedge still be valid on the EUR/USD?
With short positions still being held at 1.0788 and 1.0645, I'm looking to see if we break below that pivotal zone which would potentially open things up for sellers to come pouring in. I will not look to add any positions as of right now.
The best course of action is to stay patient and observe the price action.
If we do break, I will lower stop losses to control risk and let it ride potentially towards 1.0100.
Trade idea is invalidated if we find strong support around 1.0600 - 1.0550 zone.
The best course of action is to stay patient and observe the price action.
If we do break, I will lower stop losses to control risk and let it ride potentially towards 1.0100.
Trade idea is invalidated if we find strong support around 1.0600 - 1.0550 zone.
Comment:
As mentioned above, the EUR/USD has found strong support around that pivotal zone.
